Morgan Stanley is considering giving its 15,000 brokers the right to recommend clients invest in spot Bitcoin ETFs. Writes about this with reference to informed sources AdvisorHub.
The institution creates a framework for buying on advice, including risk tolerance requirements, restrictions on fund allocations and trading frequency, they said.
The timing of the policy change was not specified.
About the bank’s launch of the process due diligence regarding the addition of BTC-ETF to its brokerage platform became known in February. The procedure was initiated after the instrument was approved SEC.
In March, it became known that it would provide access to the product on demand for clients of Bank of America and Wells Fargo.
According to the data SoSoValueas of April 24, the net inflow into instruments decreased by $120.6 million to $12.29 billion. AUM amounted to $53.6 billion.
In March CIO Bitwise Matt Hougan predicted the addition of one of the major investment platforms with access to BTC-ETF.
Bloomberg analyst Eric Balchunas called other participants joining this wave TradFi one of two “powerful catalysts” for demand by the end of the year.
Source: Cryptocurrency
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